Welcome Finance- Any experience

KayJ066

I applied for a loan with these guys and have filled out all the agreements, signed it all, sent proof of address, wages etc etc, now they tell me that the manager has to authorise this,
Im confused, have they already accepted me and is just waiting for the manager, they must have seen my credit rating beforehand musnt they?

Please help (if you can)

Kay

gettingitsorted

Hi kay

i dont know what your circumstances are but welcome finance are notorious high interest lenders and are not the easiest people to deal with.

vwman_3

KayJ066 wrote:

I applied for a loan with these guys and have filled out all the agreements, signed it all, sent proof of address, wages etc etc, now they tell me that the manager has to authorise this,
Im confused, have they already accepted me and is just waiting for the manager, they must have seen my credit rating beforehand musnt they?

Please help (if you can)

Kay

I would urge you to think again about dealing with this cowboy outfit, they are a nightmare, no matter how desperate you are for a loan, dealing with them will make your other problems (if you have any) seem like a vicarage tea party.

ilovegreatdanes

hi kay,
just like to agree with vwmam.we had a real nightmare with this company and to cut a long story short,we had to go to trading standards in the end and we are still receiving telephone calls from them offering finance at their newly reduced apr of around 20%!!!!!!!!

Xbigman

Saying that a manager or underwriter must approve a loan is usually a way to jack up the interest. Do you really need to borrow from them.
Regards



X

KayJ066

Thanks everyone,

Well the manager is in the process of authorising my payment,
I cannot get a loan anywhere, Im 20, tenant, living with my parents, have a good job, no ccj's, blah blah but no-one will give me one.

Its for £2000 and the apr is 60%

piggeh

60%!!

Someone will give you a loan, don't go with Welcome Finance! Get copies of your credit records and figure out why you're being refused credit. 60% is an astonishing amount of interest!

What do you need the loan for?

I also suspect you will receive a phone call saying the manager has said he cannot offer you a loan at 60%, but is willing to offer you one at 70%..

jillie1974

please, please do not go with these guys!! our £25k turned to £33K when we wanted to clear it!!!
is there a way you can go without having toborrow from them? they are a nightmae and like another poster we still get calls from them 18months snce we paid them!!

KayJ066

I can't i have tried everywhere, i went with Yes loans and they recommended welcome to me, i need it for consolidation and xmas really, i just got myself in a mess and want to get out of it fast.

gettingitsorted

post on the debt free board im sure we can be of some help .please please please re consider taking the loan.

piggeh

KayJ066 wrote:

I can't i have tried everywhere, i went with Yes loans and they recommended welcome to me, i need it for consolidation and xmas really, i just got myself in a mess and want to get out of it fast.

With all due respect (and given I'm an ex-bankrupt, I have been there), taking a 60% loan is not the way to clear your debts.

If your loan payments are too big, then take advice, and give your current creditors a token payment whilst you talk to them & the Consumer Credit Counselling Service to sort out more manageable payments. A token payment would also give you a bit more spare cash in the meantime for christmas.